Bloomberg Oil pared losses amid signs that Saudi Arabia and Russia are making progress towards an agreement to curb crude output as the coronavirus wreaks havoc on the global economy. Futures fell 3.3% in New York, having earlier plunged 11%. Large oil-producing nations are racing to negotiate a deal to stem the price crash, but hurdles remain. A meeting of …

Bloomberg The world over, one mainstream fuel — diesel — has managed to remain a decent profit centre for the oil refining industry at large as the novel coronavirus ravages economies and their wider demand for petroleum products. Diesel has risen in value relative to crude in recent weeks due to a combination of continued industrial usage and purchasing of …

Bloomberg Harris Associates, a multibillion-dollar asset manager that has touted responsible investing, agreed to enact a series of investor-driven measures after it was disclosed that one of its top managers helped fund groups that question the consensus on climate change. Brunel Pension Partnership, one of Britain’s largest retirement pools, said it looked into Harris’s investment practices following a report by …

Bloomberg Airlines’ carbon emissions could drop by more than one-third this year as travel demand sinks, a trend that could continue as businesses reassess their need to fly, according to the Australia Institute. The industry’s carbon-dioxide emissions between February 1 and March 19 fell by more than 10 million tons from the same period a year ago as airlines scrapped …

Bloomberg President Donald Trump said he doesn’t think he’ll have to impose tariffs on imported oil to blunt the impact of a price war between Russia and Saudi Arabia, but held out the option to protect US oil producers. “I would use tariffs if I have to,” he said at a White House news conference, restating his position from an …

Bloomberg When the coronavirus hit China late last year, America’s solar industry immediately started worrying about manufacturing. Asia is the main source of panels and other equipment, and with residential installers anticipating a bumper year, a bottleneck in the supply chain could be a major hindrance. Turns out the industry’s biggest 2020 quandary is very different: dwindling demand. Many homeowners …

Bloomberg Stocks jumped in Europe and Asia alongside US equity futures after the reported death tolls in some of the world’s coronavirus hot spots showed signs of easing over the weekend. The dollar strengthened and Treasuries fell. The Stoxx Europe 600 Index opened solidly higher after Italy said it had the fewest deaths in more than two weeks, while France …

Bloomberg Asia stocks are not out of the woods yet, despite the recent bear-market rally, according to Goldman Sachs Group Inc. Investors who may be getting optimistic that markets across the region have bottomed should resist that notion, strategists led by Timothy Moe said in a note on Monday. The MSCI Asia Pacific ex-Japan Index has rebounded some 12% since …

Bloomberg A slowdown in the growth rate of new US coronavirus cases may help put a floor under stocks and dampen volatility, according to JPMorgan Chase & Co. The Cboe Volatility Index has been tracking data associated with the global spread of cases and has shown a relationship with growth at the US state level, technical strategists Jason Hunter and …

Bloomberg The People’s Bank of China (PBOC) cut the amount of cash that some banks have to put aside as reserves, injecting liquidity to encourage lending as the world’s second-largest economy is set for the slowest growth since 1976. The required reserve ratio (RRR) for rural banks and small city commercial banks will be lowered 1 percentage point, the PBOC …